Onramp Funds Review

Onramp Funds is not a traditional lender but a financing platform that aligns its repayment model with the revenue streams of eCommerce businesses. Unlike banks that rely on rigid credit checks or collateral, Onramp uses a data-driven approach, analyzing historical sales data from platforms like Amazon, Shopify, WooCommerce, BigCommerce, Squarespace, Walmart, and TikTok Shop to create customized funding offers. This allows businesses with at least $3,000 in average monthly sales—no minimum time in business required—to access up to $2 million in working capital.

The company’s revenue-based financing model is a standout feature. Instead of fixed monthly payments, Onramp takes a percentage of a business’s sales, typically around 1%, until the advance is repaid. This flexible structure ensures that repayments scale with revenue, easing the burden during slower sales periods. Onramp’s platform also integrates seamlessly with eCommerce stores, maintaining high security and privacy standards to protect sensitive data.

How Onramp Funds Works

The process to secure funding through Onramp is straightforward and designed for speed:

1. Application: Businesses answer a few questions on Onramp’s website to receive an estimated funding amount.
2. Store Connection: Applicants connect their eCommerce store (e.g., Shopify or Amazon) to Onramp’s secure platform, which reviews sales history to generate tailored offers.
3. Offer Selection: Onramp provides multiple funding options, allowing businesses to choose the one that best fits their needs.
4. Funding: Once approved, funds are deposited into the business’s account, often within 24 hours.

This streamlined process is particularly appealing to eCommerce sellers who need quick access to capital for inventory, marketing, or supply chain management. Onramp’s focus on eCommerce-specific challenges, such as cash flow tied to sales cycles, sets it apart from traditional lenders.

Customer Reviews and Experiences

Onramp Funds has garnered significant attention on review platforms like Trustpilot, where it holds a 4.3-star rating based on 184 reviews as of February 2025. The company also has a 4.1-star rating from 17 Google reviews and a 5.0-star rating from two Sitejabber reviews. These ratings reflect a generally positive reception, though some criticisms highlight areas for improvement.

Positive Feedback

Many customers praise Onramp for its speed, flexibility, and customer service. For example, one Trustpilot reviewer described their experience with representative Andrew as “fantastic,” noting his clear guidance and professionalism, which made the loan process “stress-free and smooth.” Another user highlighted Onramp’s ability to fund their business when traditional lenders declined, stating, “Onramp found a way to fund me when I thought it was impossible. Their systems and methods are the best in the business.”

The revenue-based repayment model is frequently cited as a game-changer. A reviewer named Rocco, who runs an eCommerce wholesale business, credited Onramp with helping scale his operations, adding, “Credit cards are a lot harder to work with, and you can end up paying more interest in the long run.” Others appreciated the personalized approach, with one user noting, “They really learned a lot about our business and our goals and worked with us to find the perfect funding fit.”

Onramp’s support for new businesses is another recurring theme. A Trustpilot reviewer shared, “Ease of getting funds for new businesses that are less than a year old. Looked around for multiple options and was denied everywhere other than Onramp!” This accessibility is critical for startups that lack the credit history required by traditional banks.

Criticisms and Challenges

Despite the positive feedback, some customers have raised concerns. One common complaint is the lengthy approval process. A reviewer noted, “Funding was quick once approved, but approval took some time. Onramp’s due diligence process was extensive but appropriate.” While thorough vetting ensures responsible lending, it can frustrate businesses needing immediate capital.

More serious criticisms include allegations of misleading practices. A Trustpilot reviewer described a negative experience, claiming Onramp approved a credit line only to later retract the offer due to an existing loan, which had been disclosed upfront. They also expressed concerns about data security, citing a manual data collection process that felt less secure than standard Shopify apps. Another reviewer called Onramp a “scam,” alleging unauthorized payment withdrawals and high collection fees, though this appears to be an outlier.

Onramp responds to many negative reviews, demonstrating a commitment to addressing concerns. For instance, in response to a complaint about funding terms, Onramp clarified its process and encouraged the reviewer to reach out for further assistance. However, the presence of negative feedback suggests that Onramp’s communication and transparency could be improved in some cases.

Strengths of Onramp Funds

1. Tailored for eCommerce

Onramp’s deep understanding of eCommerce challenges sets it apart. By integrating with major platforms and analyzing sales data, it offers funding solutions that align with the unique cash flow patterns of online businesses. This makes it an ideal partner for sellers on Amazon, Shopify, and other marketplaces.

2. Flexible Repayment

The revenue-based repayment model is a major advantage, allowing businesses to pay more during high-sales periods and less during slower months. This flexibility reduces financial strain compared to fixed loan payments.

3. Fast Funding

Onramp’s promise of funding within 24 hours is a significant draw. Customers like Hana, who received funds “in no time” after exhausting other options, highlight the platform’s efficiency.

4. Accessibility

With no minimum time in business and a low $3,000 monthly sales threshold, Onramp is accessible to startups and small businesses that struggle to secure traditional loans. Its willingness to work with businesses declined elsewhere is a lifeline for many.

5. Strong Customer Support

Representatives like Andrew, Molly, and Noah receive consistent praise for their responsiveness and transparency. Onramp’s Austin-based team is described as personable and invested in clients’ success.

Weaknesses of Onramp Funds

1. Approval Delays

While funding is fast post-approval, the due diligence process can be time-consuming. Businesses needing immediate capital may find this a drawback.

2. Transparency Concerns

Some reviews suggest inconsistencies in communication, such as unexpected changes to funding terms or unclear data collection processes. Onramp could benefit from clearer upfront disclosures.

3. Limited BBB Accreditation

Onramp is not accredited by the Better Business Bureau (BBB) and has a B+ rating due to an unresolved complaint. While BBB accreditation is not mandatory, it can enhance trust for some customers.

4. High Costs for Some

A few reviewers mentioned “crazy high rates” or unexpected fees, indicating that Onramp’s pricing may not suit all businesses. The cost of financing depends on factors like loan amount and repayment term, so businesses must carefully evaluate offers.

Is Onramp Funds Legit?

Onramp Funds appears to be a legitimate financing platform, backed by its $42 million funding round led by Luther King Capital Management and a growing customer base. The company adheres to industry-standard security protocols, including Open Web Application Security Project (OWASP) standards, and avoids collecting sensitive personal data to minimize breach risks. Its Trustpilot rating of 4.3 and positive Google reviews further support its credibility.

However, the lack of BBB accreditation and isolated negative reviews raise minor red flags. The single BBB complaint and occasional Trustpilot criticisms about transparency suggest that Onramp is not without flaws. Businesses considering Onramp should thoroughly review terms, ask detailed questions, and compare offers with competitors to ensure alignment with their financial goals.

Comparison with Competitors

Onramp Funds competes with platforms like Clearco, Wayflyer, and Amazon Lending, which also offer revenue-based financing for eCommerce. Here’s how Onramp stacks up:

• Clearco: Like Onramp, Clearco provides revenue-based financing with a focus on eCommerce. However, Clearco’s fees can be higher, and its approval process is less personalized.
• Wayflyer: Wayflyer offers similar repayment flexibility but requires higher minimum sales ($10,000/month) and may have stricter eligibility criteria.
• Amazon Lending: Exclusive to Amazon sellers, this option offers competitive rates but lacks the platform integrations and flexibility of Onramp’s model.

Onramp’s strength lies in its low entry barrier, platform integrations, and personalized customer service, making it a strong choice for small to mid-sized eCommerce businesses.

Who Should Use Onramp Funds?

Onramp Funds is best suited for:

• eCommerce Startups: Businesses with limited credit history or less than a year in operation.
• Sellers on Major Platforms: Those using Amazon, Shopify, or other supported platforms who need capital for inventory or marketing.
• Businesses Seeking Flexibility: Companies that benefit from revenue-based repayments over fixed loans.
• Entrepreneurs Denied Elsewhere: Onramp’s willingness to fund businesses rejected by banks is a major draw.

Conversely, businesses with strong credit profiles or those needing large, long-term loans may find better rates through traditional lenders. Additionally, companies wary of sharing sales data or uncomfortable with Onramp’s manual data collection process might prefer alternatives.

Tips for Using Onramp Funds

1. Understand the Costs: Request a detailed breakdown of fees and repayment terms to avoid surprises.
2. Know Your Numbers: Ensure your return on investment from the funds exceeds the cost of financing, as advised by a Trustpilot reviewer.
3. Leverage Customer Support: Engage with representatives like Andrew or Molly to clarify terms and tailor offers.
4. Compare Options: Even if denied elsewhere, explore competitors like Clearco or Wayflyer to ensure the best fit.
5. Monitor Repayments: Track how the percentage-based repayments impact your cash flow, especially during slow sales periods.

Conclusion

Onramp Funds has carved a niche as a reliable funding partner for eCommerce businesses, offering fast, flexible, and accessible capital. Its revenue-based financing model, seamless platform integrations, and strong customer support make it a compelling choice for startups and small businesses. While the approval process can be slow and some customers report transparency issues, the overwhelmingly positive reviews and $42 million in backing underscore Onramp’s legitimacy and potential.

For eCommerce sellers struggling with cash flow or seeking to scale, Onramp Funds is worth considering. By carefully evaluating offers and leveraging the platform’s strengths, businesses can unlock the capital needed to thrive in the competitive online marketplace. As Onramp continues to grow, its commitment to empowering eCommerce entrepreneurs positions it as a leader in the fintech space.